Sony’s profit up as people staying home play video games
Japanese electronics and entertainment company Sony Corp. said Tuesday that its April-June profit jumped 53% as its video game and other online businesses thrived with people staying home due to the coronavirus pandemic.
Tokyo-based Sony reported a 233 billion yen ($2.2 billion) profit for the last quarter, up from 152 billion yen the year before. Sony warned that its movie division would likely suffer for two or three years due to delays in film projects and limits to theater seating because of the pandemic.
Consumer demand for electronics products has also plunged, including sales of digital cameras, TVs, and other gadgets, according to Sony. Some factories in China and Malaysia were temporarily shut down and an inability for some employees to travel also was a hindrance, the company said.